Price gouging by Big Pharma: How do you stop it? (2 Viewers)

[coldseat]

Whats the price in Europe?


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Daraprim still only costs $1 or $2 a pill abroad. Turing only has the U.S. rights to distribute it. Doctors around the world have flooded Dr. Aberg's inbox with offers to send her supplies from their countries.

In 2015, CorePharma sold the U.S. rights of Daraprim to Turing, which raised the price to a whopping $750 a pill.

 

[efil4stnias]

we have to buy 2 sets....one for on person and one for at school.

I was livid when we heard about this. The CEO has YET to explain why MYlans cost went up....idgaf about healthcare deductibles and plans....to MAKE EPIPENS today is SAME COST as it was when they were $100.

Ill tell you why.

only 3-4% of the population had a need for them in 2009.

just over 10% today. DEMAND. GREED. IMPUNITY.

Plain and simple. And her !@#!@#@ GOT CALLED OUT.

 

[SWJJ]

Apparently she (the CEO) is the daughter of democratic senator Joe Manchin.

This is the hypocracy of the Democratic Party at its finest.

 

[efil4stnias]

These are the EXACT reasons I have come to the conclusion that health care in America should be a right and NOT a commodity.

This affects me directly, my ability to have current epipens on hand means life and death for my daughter.

As it does countless people standing next to you who don't share how we have to leave birthday parties before cake is served, or the panicked moment at the ER when you first discovered an anaphylactic food allergy.

We are paying too much for life saving necessities so a handful of people can make an exorbitant income.

you aint the only one brother.

 

[RetroMcBananaFace]

At the end of the day, it is not the ultimate objective of drug companies, or any other corporations, to be a "good corporate citizen".

No doubt about that, but when your product can literally be the difference between life or death to people....it makes me wonder if publicly-held corporations should be required to sell a certain percentage of their shares to public awareness groups in that field, or lieu of that, submit to some sort of government review of anything that looks unethical.

 

[GrandAdmiral]

I've always favored price controls on medications. It's absolutely insane how these corporations bilk every cent they can from individuals just because they can. This is the downside of capitalism. Lately, the uproar has been over the EpiPen (I have one for my tomato allergy), but it is far from true situations of life and death.

The OP provided the link about HIV medication, three companies have a monopoly over the insulin industry, where instead of having true competition, they do shadow increases with no repercussions because of their protected patents that never seem to expire. I've been a type 1 diabetic over 30 years. I think it's criminal that a one-month supply of insulin costs over $400 a month, and that's the negotiated price with my insurance company. This isn't something that I can hold on to for a year as long as I don't eat pizza or put ketchup on my hot dog.

There are stories of diabetics being admitted to the hospital, and some dying, because the had to decide between paying for insulin and paying rent of having food in the house.

Capitalism at its best.

“This borders on the unbelievable,” Davidson said, citing an extremely concentrated insulin which “in 2001 had the wholesale price of $45. By last year, the cost had skyrocketed to $1,447.”

Susan Pierce, a diabetes educator at Philadelphia’s Chestnut Hill Hospital, said she’s seeing similar increases with her patients reporting that the cost of their insulin is doubling, tripling or rising even more.

“People who paid $200 or less are now getting bills of $400, $500 and even more for the same amount of insulin. Meanwhile, most insurance is paying less for medications and the required co-pays are higher, so it is a double whammy that prevents the patient from getting the insulin to stay alive,” said Pierce.

Insulin price gouging endangers lives and limbs of thousands of diabetics - Cold Truth

 

[CountWhoDat]

"We do subsidize the rest of the world... and as a country we've made a conscious decision to do that," Bresch said. "And I think the world's a better place for it."

These are the kind of statements that should have people up in arms all over this country. WE as a country have not decided to subsidize the rest of the world's pharmaceutical costs. Big Pharma, through intense lobbying efforts and threats to both providers and consumers, has chosen this. Other countries have ensured it by standing up to them where our Congress wouldn't. What a crock.

The arrogance of these people is unbelievable. Situations like this make me sympathetic to those who wish to "burn the system down."

 

[Galbreath34]

Apparently she (the CEO) is the daughter of democratic senator Joe Manchin.

This is the hypocracy of the Democratic Party at its finest.

Pharma owns both parties and almost 30 years ago owned a President outright.

 

[Goatman Saint]

Seriously SWJJ, if you think just having a D or R behind their name makes them any less corrupt or bought off you are mistaken. Only difference IV seen is the Republicans will invade countries and nearly destroy the US economy to make their profits.

Short of a Canadian or European system where government sets prices there are only 2 options. Either strip research funding for unacceptable increases or use the tax code to destroy the profit margins with an insanely high upper bracket.


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[BreesusSaves]

As a result of the company's financial performance, Bresch's compensation hit $19 million last year, up from $2.45 million in 2007. Over the same period, an EpiPen's average wholesale price was being hiked by 461 percent.

Here's what you need to know about the CEO behind the big EpiPen price hikes


Even with inflation, you can still live like an outrageous **** at $2.45m/yr.

 

[Galbreath34]

No one is more frustrated than her about this right?

 

[SWJJ]

Seriously SWJJ, if you think just having a D or R behind their name makes them any less corrupt or bought off you are mistaken. Only difference IV seen is the Republicans will invade countries and nearly destroy the US economy to make their profits.

Short of a Canadian or European system where government sets prices there are only 2 options. Either strip research funding for unacceptable increases or use the tax code to destroy the profit margins with an insanely high upper bracket.


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I don't. Sorry I wasn't clear in my post. Excusing this under the name of capitalism Is something I expect from a republican advocating "free market" health care. This is the type of thing the dem party usually vilifies to push socialized healthcare. So that's why I called out the dems in the hypocracy.

 

[J-Donk]

Here's what you need to know about the CEO behind the big EpiPen price hikes


Even with inflation, you can still live like an outrageous **** at $2.45m/yr.

I truly believe these people get caught up in their own world, and they compare themselves to other millionaires. They don't want to have to pull a Kevin Hart and explain their checking, and savings account.

However, price gouging decades old medication should land you in jail. There is no justification for this kind of psychopathic greed.

 

[SaintInBucLand]

Hopefully one day we will move past greed and all products and services that have to do with sustaining life will be regulated and not allowed to profit from them. Medical, nutritional foods, basic shelter, electricity, running water and natural gas where needed.

 

[Madhattr]

Allow drugs from everywhere. Canada, Europe, Tommy at the corner gas station, wherever. Competition lowers prices and if we can get drugs from Canada at a drastically reduced price the U.S. companies will lower their prices or go out of business.